Gulf Keystone stock (LSE:GKP) is still bearish in outlook
and long trades are not currently recommended. The bearish forces that cause
the current weakness are present in the market. The insects that devour
vegetables live on vegetables.
The price is almost below the EMA 21 and the
Williams’ % Range period 20 is not that far from the oversold area. In this
kind of market, rallies offer wonderful opportunities to go short at better prices.
Unless price closes above the EMA 21 and trends further upwards, long trades
remain illogical. It is likely that the price would test the demand level at 50.50
again.
When the market goes up, investors are happy. During
a strong downtrend, investors will start a spate of complaints, ire, frustration
and despair. When the stock drops further, investors will begin shouting again.
Such is the investors’ behavior. However, we have learned that seemingly
impossible hurdles can be overcome.
This forecast is ended by the quote below:
“Over the
next few years and into Graduate school I continued to learn by losing my own
money over and over again. Then all of a sudden I started losing less money.” – Ian
Cassel
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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